OREANDA-NEWS European countries will not be able to replace Russian liquefied natural gas (LNG) with American gas in the next one and a half to two years, Sergey Kaufman, an analyst at Finam financial group, admitted in an interview with RIA Novosti.

"In the next one and a half to two years, there will not be sufficient additional volumes on the market to replace Russian LNG on the European market," the expert said, answering the question of whether Europe will soon be able to replace Russian gas with American gas.

He added that Russia currently supplies Europe with about 17-18 million tons of LNG per year. At the same time, Russian gas is sold from the country's largest Yamal LNG plant mainly with reference to oil prices.

Earlier, Serbian Deputy Prime Minister Alexander Volin thanked Russia for fair gas prices. According to him, the Serbian market is so small for the Russian Federation that it could be considered a statistical error, but Russia treats this issue differently and offers Belgrade the best prices and conditions.